The Dow Jones industrial average climbed 96 points, or 1.1 percent, to close at 8,712, its highest point in over a month. American Express (AXP), upgraded by analysts after delinquencies fell, and IBM (IBM), which reported stronger-than-expected quarterly earnings, gained the most among the Dow's 30 component stocks.

Meanwhile, Bank of America (BAC) and JPMorgan Chase (JPM) were the only two Dow stocks to fall in today's trading. For more stocks making moves today, be sure to check out BloggingStocks' market wrap-up.